Depositing with SEPA (Single Euro Payment Area)
You can deposit funds into your Morpher account using SEPA (Single Euro Payments Area). Here’s how it works:
1. Navigate to the Funds page, and click on the EUR logo
2. Select SEPA as Your Payment Method
Alternatively, click the Deposit button, then select EUR, and choose SEPA.
3. Enter the Transfer Details:
Use the IBAN, amount, and Reference/Message provided. Sometimes you may also need to enter the BIC and bank address.
Include the Reference/Message Code:
This is essential for identifying your transfer, especially if your bank account name does not match your Morpher KYC documents.
Use QR Code (if supported):
Some banking apps allow you to scan the provided QR code to automatically fill in all the transfer details.
Ensure the Transfer is in Euros:
If your account is in another currency, make sure to convert funds to Euros before sending the transfer.
Minimum Deposit: €1.
Maximum Deposit: €5,000 (or equivalent).
The time it takes to process your SEPA deposit depends on several factors:
Transfer Time from Your Bank to Morpher:
During business hours, SEPA transfers are generally quick, taking only minutes to hours.
Transfers made outside of banking hours may take longer and often appear the next business day.
Weekends and Holidays:
Transfers sent over the weekend or late on Friday are usually credited early the following Monday.
We’re actively working to improve processing times and the deposit process.
Your deposit is converted to MPH tokens at the market price at the time we receive the funds. The MPH amount shown during the deposit process is only an estimate.
There are no fees for SEPA deposits in Euros.
Some banks may require fees for SEPA transfers.
SEPA deposits qualify for deposit bonuses, just like other methods. The bonus is automatically applied and available for claiming in your account.
To view deposit bonus eligibility, feel free to input a deposit amount on the platform before navigating to your banking app.
How to Deposit with SEPA
1. Navigate to the Funds page, and click on the EUR logo
2. Select SEPA as Your Payment Method
Alternatively, click the Deposit button, then select EUR, and choose SEPA.
3. Enter the Transfer Details:
Use the IBAN, amount, and Reference/Message provided. Sometimes you may also need to enter the BIC and bank address.
Include the Reference/Message Code:
This is essential for identifying your transfer, especially if your bank account name does not match your Morpher KYC documents.
Use QR Code (if supported):
Some banking apps allow you to scan the provided QR code to automatically fill in all the transfer details.
Ensure the Transfer is in Euros:
If your account is in another currency, make sure to convert funds to Euros before sending the transfer.
Deposit Limits
Minimum Deposit: €1.
Maximum Deposit: €5,000 (or equivalent).
Processing Times
The time it takes to process your SEPA deposit depends on several factors:
Transfer Time from Your Bank to Morpher:
During business hours, SEPA transfers are generally quick, taking only minutes to hours.
Transfers made outside of banking hours may take longer and often appear the next business day.
Weekends and Holidays:
Transfers sent over the weekend or late on Friday are usually credited early the following Monday.
We’re actively working to improve processing times and the deposit process.
Conversion to MPH
Your deposit is converted to MPH tokens at the market price at the time we receive the funds. The MPH amount shown during the deposit process is only an estimate.
Fees
There are no fees for SEPA deposits in Euros.
Some banks may require fees for SEPA transfers.
Deposit Bonuses
SEPA deposits qualify for deposit bonuses, just like other methods. The bonus is automatically applied and available for claiming in your account.
To view deposit bonus eligibility, feel free to input a deposit amount on the platform before navigating to your banking app.
Updated on: 02/12/2024
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